ROME: Embattled Italian food group Parmalat has filed for fast-track bankruptcy protection as the government pressed ahead yesterday with urgent plans to beef up its regulatory system after billions of euros slipped through the cracks at the company.
Parmalat lawyer Dario Picone told reporters in the northern Italian city of Parma, near the group’s headquarters, that it had filed for protection from creditors under a decree adopted by the government.
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